Curious about how to purchase our properties? We’ll help you every step of the way!
Find a Property
You can find all properties currently for sale by clicking here.
Apply to Purchase
Properties are listed for at least 30 days before applications are reviewed. Applications are reviewed as they are submitted. We strive to review applications in a timely manner, typically your application will go to our Board for approval within 30-45 days of your complete application submission. Some sites may be more challenging to review, so please allow 90 days for the review and approval process. You can apply directly from the property listing page on our website; if you need an accommodation such as a printed application, please contact our office and we’ll be happy to help you out!
Our Disposition Process
El proceso de disposición
Complete applications will include:
- The stated end-use for the property (what you plan to do with the property)
- A job-cost estimate for the redevelopment of the property. (Please see the Redevelopment Timeline section below for more information on the required timelines for redevelopment.)
- Proof of funds available for both the purchase price and the redevelopment cost (this could be a bank statement or a letter from a lender, for example)
- $25 application fee paid one time per property
- Agreement to $750 down payment in certified funds payable at the time of completing the Purchase Agreement
Properties are sold as-is, but we do accept offers. Please see our Disposition Summary for additional application requirements. If there are multiple complete applications, we will hold an auction for all applicants with complete applications that meet the disposition priorities established by our Board. The application with the highest bid from the auction will then move forward to our Board for approval.
The OMLB Board of Directors accepts or rejects all offers to purchase OMLB properties at our board meetings. Board Meetings are open to the public and you are welcome to attend!
All Land Bank properties are sold with a specified redevelopment timeline; everything listed in your job-cost estimate must be complete within that timeline. Currently, purchasers have 9 months for the renovation of a single-family residential property and two years for other types of property; the redevelopment timeline will be specified in your application and purchase agreement. We will regularly check in on redevelopment progress after closing and sign off as soon as the redevelopment is complete.
Need financing or a contractor? Want to see a sample application? Find resources for buyers on our Resources page! Contact us with any additional questions you have! Contact Us